The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-08-08
HENRY S.slYES,@
TIE TIN; "NAroLEoN OF FINANCE,
lis Connection with tho Great Railroad
Dsnls-How Mt tho Ago Of Thirty Yenrs
lilo has Risen to to DO One of tho
N Shrowtost Finnnciera Of tho Age,

CINCINNATI, August THE Commercial
Gazette says: "Somobody ought to write
the history Of the Cincinnati, Hamilton 4
Dayton Railroad. There arc men living
who could do 1t. 1t would be interesting
and at the same time profitable. Theo-
dore Cook Is not an old man. He is in a
condition, we feel sure, to contribute
largely to history in this connection. L.
.. Harrison is an older man than Mr..
Cook, and he ID full Of information on the
subject. 90 IRE Julius Dexter and Thos.
Emery. There never was a better piece
81 railroad property than the O., Fl. D.
Had 1t been honestly and economically
managed the stock to-day would be worth
five. hundred cents on the dollar. IL
made tortunes for few men; but because
OF this 1t did not make fortunes for tia
real owners. It came near being wrecked
several times, but in spite of the wrecker
1t prospered. Its real worth attracted the
attention OF vullures, and with returrtibe
seasonn 1t has been taken hold OF by spec.
ulators. ~ - 800
THE latest performers in this line were
Mr.. Ives and his associatee. These are
now being ventilated. They sought to
obtain control Of the property, and they
succeeded Tor tho time. For several
months they have been engaged IN the
construction OF an inverted pyramid.
without any great amount OF real capital,
and with very poor reputation in New
York financial circles, it WAS sought to
build up a great railroad system in Gin
cinnasi. The Cincinnati, Hamilton 4
Dayton, which in itself is magnificent
property, was sought as the foundation
upon which to build. Upon small mar
gin WAS purchased. o5s7 (.
ARRIVAL OF GOULD.
The leases Of other roads we're obtained,
and in some cases purchases outright wore
made. Then new securities were issued,
and upon these windbaga money was Dor.
rowed. With this inflated capital il was
sought to purchase the Baltimore & Ohio
railway and telegraph system. II this
had been accomplished the Baltimore 4
Ohio Railroad Company would have is
sued a blanket guarantee that would have
covered everything. AT this point Ives
and associates would, upon compara-
lively small capital, have become great
railroad monopoiiats, rivaling Jay Gould.
This was the great castle that was built in
the air. But behold the reault! This man
Ives is not thirty years Of are.
In the bloom OF his youth he
has been frost-bitten. The great rail-
road balloon which he has bean engaged
in initiating exploded, and be ia driven to
the wall. When the real outcome is to be-
can not now bs told. but Ives and his
associate spectators are roostinp yery
much lower than they did a few weeks
ago. They are exposed. People who
loaned money on the O., H. & D. stock
have had their Dyes opened, and this was
not brought about ono day too soon. The
effort now 10 TO obtain President and
Board OF Directors for the company that
will restore confidence. This Is difficult
undertaking, but it will probably DO &C.
complished. The railroad company is
financially Quilted, but the great property
remains. Ives and his associates have
misapproprieted over three million Of
securities, but they may return these.
This is now the objective point. The real
Stockholders and the real owners who
have advanced money on the stock have
the matter in hand and 1t is to be hoped
they will succeed" - I : 10